Milwaukee officials are planning a groundbreaking ceremony Tuesday for the latest housing additions to two local subdivisions where government incentives help encourage both home ownership and construction in under-developed parts of the city.
The ceremony, scheduled for noon Tuesday at 2018 N. 14th St., will mark the start of projects in both the Walnut Circle and Josey Heights subdivisions, northwest of the city’s downtown. Prospective homebuyers who meet certain criteria can receive lots in the subdivisions for $1 and then obtain a $30,000 forgivable loan for the purchase of a house.
To qualify for the aid, a buyer must make between $80,000 and $90,000 a year, have good credit and have not declared bankruptcy in the past seven years. The $30,000 forgivable loans will be offered only to the first 10 buyers to sign up for the purchase of a house in either subdivision.
Walnut Circle, at the corner of 20th and Walnut streets, has 29 lots ready for new-home construction. Josey Heights, at 12th and Lloyd streets, has 33 lots.
The two subdivisions were established in the mid-2000s. Designs for the houses on offer come from Emem Group, a Milwaukee firm specializing in architectural and engineering services, construction management and real estate development. Besides the city, money for the ownership incentives is coming from Associated Bank and the Zilber Family Foundation.